In a strategic move to bolster Oman’s future economic landscape, Bank Muscat, the nation’s leading financial institution, is actively investing in the next generation by promoting financial literacy and entrepreneurial skills. In collaboration with the Ministry of Education, the bank recently organized the “Maliyat Academy Challenge” in Sohar, North Al Batinah, for students in the ninth and tenth grades.
Fostering Innovation Through Competition
The “Maliyat Academy Challenge” brought together approximately 80 students for an immersive and competitive educational experience. The event served as a platform for participants to develop and present innovative business ideas, which were evaluated based on their market viability, social impact, and economic potential.
The challenge encouraged students to engage in creative thinking and teamwork, tackling financial problems by conceptualizing a commercial project with a tangible economic benefit. This hands-on approach aims to instill the core principles of entrepreneurship from an early age, providing a stimulating environment for participants to discover their capabilities and transform ideas into actionable plans.
A National Initiative With Broad Impact
This event is an extension of Bank Muscat’s wider “Maliyat Academy” initiative, a flagship corporate social responsibility program launched in 2023. The program is designed to embed a strong foundation of financial literacy among school students across Oman by training teachers and vocational specialists to deliver a specially curated curriculum.
To date, the “Maliyat Academy” has successfully trained 1,289 educators, who have in turn delivered the program’s content to over 77,000 students in 1,190 schools throughout the Sultanate.
Talib bin Saif Al-Makhmari, Senior Manager of Community and Media Relations at Bank Muscat, stated, “The Maliyat Academy Challenge is a real educational opportunity that enables participants to understand the foundations of entrepreneurship, innovation, planning, and organization. Financial awareness is one of the most important life skills everyone should possess, as it contributes to building a generation capable of making sound financial decisions.”
Building a Foundation for a Knowledge-Based Economy
The initiative has been lauded by educators for its innovative and interactive approach. By focusing on critical thinking, financial planning, and problem-solving, the program equips students with essential skills for Oman’s evolving knowledge-based economy.
“We witnessed great enthusiasm from the students, which helped them develop their skills in critical thinking and financial planning, an important step in building a conscious generation capable of shaping its future with confidence,” said Khalid bin Saif Al-Saidi, a teacher from Imam Ahmed bin Saeed School.
The program also emphasizes social values such as collaboration and intellectual diversity. Students participating in the challenge highlighted the transformative experience of developing a business idea and the increased ambition to contribute positively to their community.
“The experience of participating in the challenge was wonderful and enriching,” said student Ahmed bin Mohammed Al Balushi. “I felt that I was capable of turning an idea into a successful innovative project that could be implemented. I now have a greater ambition to be part of a positive change in the future.”
About Maliyat Academy
The “Maliyat Academy” is a key corporate social responsibility initiative by Bank Muscat, launched in partnership with Oman’s Ministry of Education. It aims to disseminate financial literacy and entrepreneurial principles among school students aged 13 to 16. The program operates on a train-the-trainer model, empowering educators to effectively deliver financial education and cultivate a new generation of financially responsible and innovative leaders in Oman.
Source: Atheer
